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<p>[QUOTE="Anonymous, post: 3408007"]Lilly Buys Rights to Hormone for Low-Sex-Drive Men (Update1)</p><p>March 15, 2010, 6:06 PM EDT</p><p><br /></p><p>By Rob Waters</p><p><br /></p><p>March 15 (Bloomberg) -- Eli Lilly & Co., the maker of the impotence pill Cialis, acquired from Acrux Limited a license to commercialize an underarm testosterone lotion for men whose low levels of the hormone leave them with limited sex drive.</p><p><br /></p><p>Indianapolis-based Lilly will pay Acrux of West Melbourne, Australia, a $50 million license fee plus $3 million when manufacturing assets are transferred, the companies said today in a statement. Acrux may earn $87 million more if U.S. regulators approve the drug for marketing, $195 million in commercial milestone payments as well as royalty payments on future sales, the companies said.</p><p><br /></p><p>More than a third of American men older than 45 show reduced levels of testosterone, U.S. researchers found in a 2006 study. It can sap sex drive and cause impotence, osteoporosis and memory loss, according to the Mayo Clinic in Rochester, Minnesota. Results of a clinical trial released in September showed Acrux’s lotion, called Axiron, brought testosterone levels to normal in 84 percent of men after four months.</p><p><br /></p><p>“The addition of Axiron reinforces Lilly’s commitment to men’s health and, if approved, could provide a new treatment option for men suffering from low testosterone,” said Bryce Carmine, president of Lilly’s Bio-Medicines.</p><p><br /></p><p>Acrux, which has never made a profit, rose 9 cents, or 3.9 percent, to A$2.38 in trading on the Australian stock exchange before the licensing deal was announced. The shares have more than tripled in the past year.</p><p><br /></p><p><a href="http://www.businessweek.com/news/2010-03-15/lilly-buys-rights-to-hormone-for-low-sex-drive-men-update1-.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.businessweek.com/news/2010-03-15/lilly-buys-rights-to-hormone-for-low-sex-drive-men-update1-.html" rel="nofollow">http://www.businessweek.com/news/2010-03-15/lilly-buys-rights-to-hormone-for-low-sex-drive-men-update1-.html</a>[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 3408007"]Lilly Buys Rights to Hormone for Low-Sex-Drive Men (Update1) March 15, 2010, 6:06 PM EDT By Rob Waters March 15 (Bloomberg) -- Eli Lilly & Co., the maker of the impotence pill Cialis, acquired from Acrux Limited a license to commercialize an underarm testosterone lotion for men whose low levels of the hormone leave them with limited sex drive. Indianapolis-based Lilly will pay Acrux of West Melbourne, Australia, a $50 million license fee plus $3 million when manufacturing assets are transferred, the companies said today in a statement. Acrux may earn $87 million more if U.S. regulators approve the drug for marketing, $195 million in commercial milestone payments as well as royalty payments on future sales, the companies said. More than a third of American men older than 45 show reduced levels of testosterone, U.S. researchers found in a 2006 study. It can sap sex drive and cause impotence, osteoporosis and memory loss, according to the Mayo Clinic in Rochester, Minnesota. Results of a clinical trial released in September showed Acrux’s lotion, called Axiron, brought testosterone levels to normal in 84 percent of men after four months. “The addition of Axiron reinforces Lilly’s commitment to men’s health and, if approved, could provide a new treatment option for men suffering from low testosterone,” said Bryce Carmine, president of Lilly’s Bio-Medicines. Acrux, which has never made a profit, rose 9 cents, or 3.9 percent, to A$2.38 in trading on the Australian stock exchange before the licensing deal was announced. The shares have more than tripled in the past year. [url]http://www.businessweek.com/news/2010-03-15/lilly-buys-rights-to-hormone-for-low-sex-drive-men-update1-.html[/url][/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Eli Lilly
>
Axiron
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Eli Lilly
>
Axiron
>